Gambling in the USA

Illinois to Increase Video Gambling Tax

Published

7 years ago

October 12, 2018

Niji Narayan

Photo Source: nwitimes.com

Reading Time: < 1 minute

Chicago’s governing body is planning to introduce major changes in its tax regime and video gambling is likely to witness a major tax hike. Up until now, the suburbs of Chicago had the lowest taxes in the region, but it could change soon.

The current charges include US$250 as application fee and a further US$50 as video gambling business licence fee. There is also a registration fee of US$150 per machine. As per the new tax regime, the registration fee would be US$1k per machine.

Authorities are revising an ordinance to get a vote on it before the annual May 1st application deadline, Village Administrator John Lobaito said.

“We surveyed 25 communities and based on that survey it shows that our fees are a bit low,” he said in order to explain the decision.

Trustees agree that the machines should be taxed more heavily as other jurisdictions in the area charge them with fees around the US$1k mark. “They’re not doing too bad,” village Trustee Dawn Abernathy said as she researched how much money restaurants and machine operators make a year. “I agree, go to $1,000 per machine.”

Source: FocusGN

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.